The greenback got a mild boost with better-than-expected US employment-related data, with US futures also advancing with the headline. The EUR/USD pair, however, is trading in the 1.1830 price zone, still bullish in the short-term, FXStreet’s Chief Analyst Valeria Bednarik reports.
“US data surprised to the upside, as Initial Jobless Claims for the week ended August 7 fell to 963K, the first time below 1M since mid-March. Continuing Jobless Claims for the week ended July 31, shrank to 15.486M, also beating the market’s expectations.”
“The 4-hour chart shows that the EUR/USD pair continues to develop well above its moving averages, while technical indicators eased modestly but hold well above their midlines. The pair could turn bearish on a break below the 1.1790 support, while a retest of the year high will be likely on an extension above 1.1870.”